Human Machine Interface Market forecast to 2024 illuminated by new report

Global Market Insights adds global Human Machine Interface Market report which focuses on the major drivers and restraints for the key players. It also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

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Software is classified into cloud-based and on-premise. Cloud-based Human Machine Interface Market offers better ease of access, functionality and security in a significantly lower price. Data stored in the cloud can be accessed by any internet connected devices such as PCs, tablets, smartphones with proper login credentials. On-premise HMIs are preferred by some organizations having fear of losing control of data in cloud storage.

Human Machine Interface Market is driven by rising need for efficiently monitoring the plants in various industries such as oil and gas, and mining. Factors such as increasing adoption of industrial automation equipment in the production sector along with growing demand for smart technological solution will spur the HMI industry growth. Moreover, increasing demand for integration of logical software with technical devices is anticipated to improvise quality and productivity, thereby prompting the demand.

Increasing demand for ease in machine communications along with growing demand for high processing power and huge storage space to encourage the Human Machine Interface Market adoption. Further, technological advancements in the development of innovative display panels further contributes to the growth. For instance, Oil and Natural Gas Corporation (ONGC) installed ABB’s enterprise wide supervisory control and data acquisition (SCADA) for efficient real-time monitoring of all its production and drilling facilities spread across India and in Arabian Sea.

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The presence of large number of solution providers and increasing high-end production activities is driving the U.S. human machine interface market. In addition to the increasing demand for integrated HMI solutions is anticipated to catapult the HMI market growth in the region. Moreover, early technology adoption in north America contributes further to the industry progress. The rapid industrialization will drive the India and China Human Machine Interface (HMI) Market. In addition to easy availability of raw materials, inexpensive labor force along with the rising number of automation projects is expected to spur the demand.

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Companies in the Human Machine Interface Market include Siemens AG, ABB Ltd, Eaton Corp, Schneider Electric, Honeywell Inc., General Electric, Emerson Electric, Advantech Co, Beijer Electronics, Yokogawa Electric, etc. Mergers and acquisitions is the focus of many key players as a part of business strategy. For instance, in 2016, Rockwell Automation acquired Magnemotion, in order to make expansion in the motion control business.